Real Estate Tips |5 min read

The 4 Best Hard Money Loan Calculators You Can Find Online

It can be a challenge to estimate and keep track of all hard money loan costs. But it is possible, and we’ll show you how. In this article, we’ll delve into what exactly a hard money loan is, where to find a hard money loan calculator online, and how tracking your expenses can set you up for success.

Contents of this Article

What is a Hard Money Loan?

In the simplest terms, a hard money loan is a short-term, asset-backed loan. They are commonly used to fund real estate projects, such as house flipping or scaling an existing rental portfolio. Unlike traditional loans, investors often use hard money loans for just a few months to a few years. Additionally, they are a great choice for people who need money quickly, and without the hassle or strict approval criteria involved in traditional mortgages.

Typically, hard money lenders can provide funding within a week or less – much faster than banks or other financing options. Even better, hard money loans focus on the asset and not as much on the individual borrower. While the borrower’s financials still matter, hard money lenders in Maryland are a good alternative to those with lower credit scores. 

What is a Hard Money Loan Calculator?

When investing in real estate, every dollar matters. In fact, for many investors, finances heavily drive decisions throughout the process. A hard money loan calculator operates much like other types of loan calculators.

These tools allow investors to enter certain key information and calculate the potential monthly payments of a hard money loan. Along with providing a monthly amortization schedule, they often offer examples for P&I, balloon repayments, or interest-only options.

4 Best Hard Money Loan Calculators Online

Online hard money loan calculators are a great way to estimate the potential fees and overall costs associated with this type of financing. However, not all calculators are created equal! It’s also important to remember that online calculators do not account for every factor in the loan process and individual terms may vary.

With that said, here are the top 4 hard money loan calculators currently available online.

 Fit Small Business 

  • Pros: Fit Small Business’s hard money loan calculator is simple and straightforward. It includes the bare basic hard money loan fees, such as interest rates. This makes the calculator uniquely geared towards beginners.   
  • Cons: This calculator isn’t comprehensive and only offers the basics. It does not include some aspects of the hard money loan process, such as the initial loan application fee. Thus, there may be aspects of your calculations that you will have to account for on your own.  


  • Pros: Loanbase’s hard money loan calculator has a clean and organized interface. It provides investors with extra calculations related to your transaction and hard money loan company. For example, it has a Loan-to-Value Ratio, which compares your loan to the potential value of your property. 
  • Cons: The site’s hard money loan calculator factors in balloon payments. Balloon payments are a popular slang term for loans that mature over time and are paid for at the loan term’s end. Not all companies have this feature, so this calculator is not universally applicable. 


  • Pros: Casaplorer includes some core tenants of hard money loans, like the loan principal and interest rate. It also provides an easy-to-understand chart that allows users to see their results on a visual level. 
  • Cons: Their calculator assumes all borrowers have amortized payments. Amortized payments require you to pay off your loan at certain intervals. Not all lenders request these payments, so the calculator doesn’t work for every situation.  

Understanding Hard Money Loan Fees and Costs

Like all loans, hard money property loan payments may include various types of fees. In order to calculate an accurate estimate of your loan payments, it’s important to take all of these factors into account. Let’s take a look at some of the common costs and fees associated with hard money loans for real estate below.

  • Loan Application Fee – The fee borrowers pay to have their loan applications processed.
  • Down Payment – Most real estate deals, including those with a hard money loan, require some amount of downpayment. While this amount may vary depending on the lender, borrowers should expect to have some upfront capital in the deal.
  • Loan Principal – The total amount you intend to borrow for your real estate deal, not including interest.
  • Interest – The money that borrowers give to lenders in exchange for lent money.
  • Points – The upfront fee borrowers pay for an interest rate discount.
  • Rehab Costs – The costs of rehabilitating a house, such as painting, repairs, upgrades, and landscaping, etc.
  • Insurance – The costs of financially protecting a house in case any accidents happen.
  • Draw Inspection Fee – The fee borrowers pay to have their project progress and needs routinely inspected.
  • Closing Fee – This is a fee paid to the lender as compensation for their time working to originate, underwrite, and research your specific loan deal.

Make Your MD Property Projects Happen

While no tool is perfect, hard money loan payment calculators can give you a picture of what your real estate project would look like in action. They help borrowers organize all costs and fees in one efficient place. Each calculation is a tool that enables you to take control of your next steps, and make an informed financing decision.

At Maryland Hard Money Lenders, our expertise can help make your real estate vision come alive. As one of  the best hard money lenders in Maryland, our seasoned team of professionals is here to assist every step of the way. We analyze your deals and provide investors with expert advice on property acquisition.

After all, MHML isn’t just a hard money lender – we’re your partner in the real estate journey! Give us a call or visit us online to start reaching your goals today!

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